By R. Anil Kumar
- Navratna Defence PSU Bharat Electronics Limited (BEL) Anticipates over 25,000 Crore Order Inflow in Financial Year 2024
- The company has a 15% revenue growth guidance for FY24 with margin guidance of 21-23%
Bangalore, December 22. Bhanu Prakash Srivastava, the Chairman and Managing Director of Bharat Electronics Limited (BEL), the Navaratna Defence Public Sector Undertaking, expects order inflow to cross the Rs. 25,000-crore mark for financial year 2024. As of now, the order book stands at around Rs. 23,200 crore order book.
Srivastava said the defence and aerospace major’s order for Early Warning (EW) system for ships, which is around Rs. 2,000 crore, is expected to fructify this financial year.
On December 15, the Bangalore-based BEL also signed a significant contract with the Ministry of Defence for the procurement of electronic fuses for the Indian Army.
The 10-year contract, valued at Rs. 5,336.25 crore, aligns with the ‘Aatmanirbhar Bharat’ vision and falls under the government’s initiative for the ‘Manufacture of Ammunition for Indian Army by Indian Industry.’
The project aims to build ammunition stocks, minimise imports, achieve self-sufficiency in ammunition manufacturing, obtain critical technologies, and secure stock affected by supply chain disruptions.
The strong order book has reflected in the company’s stock performance. Shares of BEL have gained over 70% year-to-date.
The company has a 15% revenue growth guidance for FY24 with margin guidance of 21-23%.
Speaking on the Exports front, Bhanu Prakash Srivastava said, “whatever we committed this financial year of around $90 million, we will be able to achieve. In non-defence, though we are diversifying in civil aviation field, rail and metro fields, some other areas also like cyber security, software as a business, homeland security, these are the areas where in non-defence we are working on.
But since defence also is increasing, that growth is there, so our ratio of defence to non-defence will remain in the range of 85-15, Srivastava stated.
